Beyond the Footsie: Weds close

Smaller company shares ended a dull session underperforming the broader indices. Investors sought safety amongst the blue-chips in the wake of deepening losses on the US markets.

The FTSE Smaller Cap index finished down 19.3 points at 3,380.4 - its lowest close since early August.

Internet host Totally led the index, having been suspended up 7 1/2p at 32 3/4p in midafternoon trade as it announced it is in reverse takeover talks.

The company - whose only active business is the website totallyjewish.com - said in mid-August that it was in talks with another party, while in the company's maiden interim figures it said it was evaluating opportunities that would have 'a significant impact'.

Most other technology stocks were falling back in line with Nasdaq, with E-xentric down 3p to 21p, Viking Internet falling 1/4p to 2 1/4p and Rage Software off by 2 1/4p to 19 1/4p despite 'buy' advice from Teather & Greenwood.

But ITnet hit an all-time low, down 55 at 297 1/2p in continued reaction to news that Hackney Council has cancelled its benefits and housing contract citing 'significant failures' on ITnet's part. The stock - techMARK's worst performer during September - is now off 68% in the past month.

News that QXL.com's chairman has reduced his holding by 750,000 shares also seen the online auctioneer to an all-time low, with shares odd 2 3/4p at 44 1/4p.

Elsewhere, Protherics was boosted by a rattlesnake antidote. The drugs company's shares were up 5 1/2p at 43p after it received FDA marketing approval for its Crofab rattlesnake anti-venom - the first of its products to win FDA go-ahead. Alongside the news, the company also announced the planned sale of its CAMD technology business.

Meanwhile Snackhouse - formerly Bensons Crisps - saw over 30% wiped off its market cap after a second-half profits alert and following news that the company's commercial director, Adrian Luckham, is stepping down from his post.

A profits warning also hit Ryland, down 6 1/2p at 39 1/2p, with the automotive group warning that second-half profits are set to fall significantly below internal budgets.

Fastrack Group failed to be buoyed by revelations it is to acquire parcel delivery and freight forwarding business Ontime Logistics from Jacobs Holdings in an all share deal; interim results unveiled a widening of losses to £1.64m - the shares shed a penny at 6 1/2p.

Plans to move to AIM pushed Carbo down 1 1/2p at 12 1/2p, while the release of interim results pushed Intermediate Equity down 1/2p at 5 1/2p.

Mezzanine Group shed 2 3/4p to 21 3/4p as profit-taking set in after robust full-year results and positive noises on trading at its core units.